12 Oct October 10th Update
Programs in Field Progress:
KS 2 Well Program Phase I – 1222 – First well drilled to the Marmaton has produced over 40 BOPD for the first 8 days. Still have to recover 70% of the frac fluid, so oil/fluid ratio should go up, meaning more oil! Drilling/completion to commence this week on the second well, I believe. So far, really good!
KS Single Well Program – 1214 – Well has been moving fluid, but underproducing to what we expected. Since it’s running on natural gas produced by the well, we’ll keep it running to see if the oil/natural gas starts coming in better. Fingers crossed. Sometimes KS wells take a little longer to come in…
KY Wells Phase II and III – 1202 – Almost all wells have been drilled at this point. It took a while due to weather, labor shortages, and over-production of natural gas (had to build infrastructure earlier this year to handle and sell it). All wells drilled are either producing or very close to producing at anticipated levels…A Success Story!
S TX LSYU Lease Development – 1215 – Delays this summer due to shortages of labor and supplies delays. Swabs done last week on wells that were going to be turned into injections, and now look likely to produce. Waiting on rig and pumps ordered to arrive to put them online. Slowly, but hopefully surely…
Ongoing Programs for Participation
1219A – Single Well Re-Entry Program
This was supposed to be drilled in August, but getting a rig in S TX has been a nightmare. On schedule to get one in 2 weeks.
- Lavaca County TX. Site prep and infrastructure in place
- Re-Entry into existing well where the cement job failed in another payzone
- Plan is to come uphole to frac in the Lower and Upper Wilcox to produce +40 BOPD & 2MMCFPD
- Estimated 4-6 month payout based on $90 oil and $5 gas
- Over 1.9BCF and 22MBO in reserves
- $14,800 per WI point @ 75%NRI. 3% available
1222A – KS 3 Vertical Well Drilling Program – Phase II
This is the second phase on the one above.
- 2400 acre lease in Central KS
- Operator to drill 3 offset vertical wells to complete in the Marmaton – estimated reserves of 75MBO per well
- 2 Secondary payzones estimated 35-100MBO per well in reserves
- Operator has successfully completed well on acreage. Produced over 40 BOPD in last 8 days.
- Estimated payout under 8 months upon successful completion of all wells @ $85 oil
- Estimated 2:1 payout in 3 years for single payzones
- $35k per 1%WI @ 80%NRI. First right of refusal on subsequent development on leasehold. 21% WI available.
Want more info on programs available or ongoing? Reach out! I’m here.